Jet2 Last-Minute Bookings Surge on Fuel Shortage Fears

Jet2, a major UK airline and package holiday provider, reported a surge in last-minute summer bookings as travelers grow anxious over potential jet fuel shortages stemming from the Middle East conflict that began on February 28.

The company disclosed that summer passenger bookings are up 6.2 percent compared to the previous year, driven by expanded capacity across its flight and holiday operations. However, it noted a shift in booking patterns, with families increasingly reserving trips close to departure dates amid fears of disruptions from the war, particularly threats to supplies through the Strait of Hormuz. Around three-quarters of Europe's jet fuel comes from the Middle East via this vital shipping route, and multiple European airlines have warned of shortages within weeks due to the standoff.

Jet2 emphasized its preparedness for the summer season. It stated that 87 percent of its required fuel is secured at fixed prices, providing cost certainty, and it is holding regular discussions with fuel suppliers and airport partners. Load factors, a measure of aircraft occupancy, remained steady year-on-year in the first quarter. The airline has ruled out surcharges for...